Shipping through Strait of Hormuz Slows Significantly Amid Tanker Attacks and US-Iran Tensions

Shipping traffic through the Strait of Hormuz has drastically reduced, with only five commodity vessels transiting over the weekend compared to 31 the previous weekend, following recent tanker attacks. US-Iran talks to resolve the Middle East conflict have stalled, and President Trump has escalated rhetoric by threatening to declare the Strait US territory, further exacerbating tensions and impacting global oil supply and shipping routes.